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just doing a few sums - from presentation in January, cost per well is anticipated to be $27 million. at $100 per barrel, it will take ~27 days to recoup most of the money @ 1000 bpd, if flow rates hold. If price of oil is $50 per barrel, it will take 54 days to recoup most of the cash.
from previous rns, they said they were looking to do 30 perforations. If each perforation produces 50 to 150 barrels per day, it's possible we could get flow rates between 1500 bpd and 4500 bpd........can see why they ordered bigger storage facilities. Is the horizontal for this well 1000 meters?
does anyone know what the horizontal length is for the $27 million quoted in january presentation and how many perforations this covers?
kb, i thinks there are still a few unknowns keeping big investors from going in hard. the rns from yesterday regarding tie-in was a big positive, but there lots it didn't say. sp has been strange over the last week - price goes up on the sell and there have been some big buys coming in late >£100k. i find it strange that chariot not committing to recruitment. my gut feeling is that chariot aren't going to make operator on this....... i would be totally surprised.
no comments from agm - i think the volume today tells the story.
looking at presentation, it looks like chariot will need to put pipe down on land to tie-in into gme pipeline. did anyone ask if they are going to increas the size of their team to oversee design and build of asset?
one thing i note is that rns is no mention of how gas will be taken from beach to the maghred pipeline. i wonder if this is a connection chariot will put in. there's been mention of sound energy having infrastructure, but my thoughts are that this infrastructure is for domestic use.....taking nothing away from today's news....it's a defining step.
let's hope chariot allocate the appropriate amout of time to discuss this in agm, which is slightly more than zero....for me, this business arm of chariot amounts to no more than desert real estate which is not a rarity in northern africa. if they are spending more than £100k on this a year, I would want an explanation in agm.
when it comes to the solar panels and wind turbines installation on this site, what is chariot going to contribute towards this?
x, sufice to say 'green energy' is from either secondary or tertiary industries and not from primary industries such as oil/gas/coal which are required to support the 'green dream' to maintain it. what is worse? - mining coal or mining rare earths for magnets and solar panels which need to be heavily processed using clean water and lead to greater polution of rivers and land - and all mined using diesel engines. co2 is food for trees. you either get this or you don't. interesting fact is that canabis growers add co2 to grow areas to increase yields.
mite, this what i would like to see - more drilling to make anchois irresitable to a larger operator who has the departments, money and legal team to negiotate with the morrocans on a gas deal. the market is moving on from the green dream (being polite) and adonis should be taking the signal. i would be happy to see a raise if funds were used for this. unfortunately, i think he has mismanaged this opportunity by crippling share price unnecessarily with earlier in may....not sure how much appetite there is for investor giving chariot more money.
Pd, the last thing we should be seeing from goverment is free money and more tax on businesses. if we want to get out of this energy crises and bring inflation under control, we need to provide our own energy free from multinational influence and create real jobs that actually export something. only one solution come to mind......bring back the coal mines, coal fired power station and rebuild our fishing industries! we also also have massive reserves of potash.